Vietnam's textile & garment exports fall 15.5% in Jan-June 2023

In the same period, Vietnam's yarn exports fell by 25.6 per cent to $2,063.717 million year-on-year. In terms of volume, the country exported 832,273 tons of yarn, marking a 2.5 per cent decrease compared to the same period the previous year. 

In June 2023 alone, yarn exports dropped by 3.9 per cent to $375.666 million, and the volume of yarn exports also fell by 3.9 per cent to 154,004 tons. 

The US accounted for a substantial 44.21 per cent of Vietnam's textile and garment exports in the first half of the year, totalling $6.955 billion. Japan and South Korea were also key markets, with exports amounting to $1,751.742 million and $1,339.314 million, respectively. 

Regarding yarn exports, China received 50.41 per cent of Vietnam's output, totalling $1,040.535 million. India was another major market, with shipments reaching $38.359 million in the first half of 2023. 

In 2022, Vietnam's textile and garment exports grew by 14.7 per cent year-on-year, reaching $37.5 billion, missing the $43 billion target. In 2021, these exports totalled $32.750 billion, an increase of 9.9 per cent compared to 2020's exports of $29.809 billion. Meanwhile, yarn exports in 2022 rose by 50.1 per cent to $5.609 billion, up from $3.736 billion in 2020. 

Under a positive market scenario, Vietnam aims to export $48 billion worth of textiles, garments, and yarn in 2023, according to the Vietnam Textile and Apparel Association (VITAS). 

ALCHEMPro News Desk (KUL)